APEC stands for the Asia-Pacific Economic Cooperation forum. Today, there are 21 members, including all of the major economies of the region with some of the most dynamic and rapidly growing economies in the world. Its members account for approximately 40% of the world's population, approximately 56% of world GDP and about 48% of world trade. It also proudly represents the most economically dynamic region in the world having generated nearly 70% of global economic growth in its first 10 years. APECs role has grown in recent years in both scope and depth and now encompasses trade liberalization, business facilitation and economic and technical cooperation.